To sum up in one word, Inditex’s non-executive chairwoman, Marta Ortega, signaled that there would be memorable moments at the opening of today’s shareholders’ meeting. She repeated the core idea six times during her four-minute speech: the company’s results for the past year and the current year are the product of the remarkable effort put in by the teams every day. Those achievements come from the courage and dedication of everyone who forms part of this global fashion group.
Throughout the session, the chairman highlighted the many challenges faced over the months, some entirely unpredictable, and how they were overcome through what she called Inditex’s magic. For her, Inditex’s magic stands for overcoming difficulties, facing new hurdles, and coming out stronger—while insisting that there is always room to improve. She described the magic as rooted in teamwork, recognizing the collective effort that drives the company forward.
At the close of the address, the non-executive chairwoman returned to the theme of Inditex’s magic, expressing heartfelt thanks to the teams, suppliers, customers, and everyone who supports the business on a daily basis. Without their support, she noted, Inditex’s magic would not be possible.
Oscar Garcia Maceiras, the group’s CEO, delivered a concise review of results and the targets for the future. He reaffirmed support for sustainable initiatives and outlined several commitments, including a goal to cut emissions by half by 2030. He also reinforced Inditex’s aspiration to achieve net-zero emissions by 2040. The plan includes a substantial push to increase the use of recycled materials, with the aim that 40% of the fibers used in its garments come from recycled sources and 25% from organic and regenerative fibers.
As in previous years, the general shareholders’ meeting proved to be a productive session, lasting about 75 minutes. All 11 items on the agenda were approved without objection. It is not surprising to note that Amancio Ortega still holds a dominant stake, nearing 60% of the company’s shares. During the day’s fifth point, the founder of the multinational reappeared to address the board of directors.
Shareholders re-elected Amancio Ortega and José Luis Durán Schulz as proprietary and independent directors, respectively, for a further four-year term. They had reached the end of their previous four-year terms but were confirmed to continue serving on the board.
Following their departure, the shareholders also approved the composition of the new board. Emilio Saracho Rodriguez de Torres accepted a role at the board, which now comprises ten directors, including four private, one executive, and five independent members. The gender balance was evenly split, with five men and five women.
The assembly also validated last year’s accounts, which reported revenue of 32,569 million euros and a net profit of 4,130 million euros. These figures marked a new record for the group, even though the company had ceased operations in Russia.
Additionally, a long-term incentive plan was approved. The plan offers cash and share-based rewards for up to 750 beneficiaries, including members of the management team and other employees, among them executive directors. The program envisions distributing 250.5 million euros over the next four years to eligible participants, aligning compensation with long-term performance and value creation for shareholders.